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MO how would you interpret GU at the MOment?
I'm not a signal service
One more thing: How many hours a week do you spend managing the space?
I will spend up to 14 hours a day managing trades...
by that I mean: watching TV, reading a book, searching Google, drinking rum, and occasionally looking up at the chart.
MightyOne wrote:newscalper wrote:MO - is this in any way close to what you're saying? (I know fib tool isn't configured, just put it there for illustration)
I guess the pinbar people would have gotten in where I pointed it out, still would have made some coin
With large charts we only care about:
a) the initial placement of 00
b) the potential for price to move hundreds of pips from one extreme or the other (or even a full blown long term trend)
c) the movement of 00 (trailing stop of sorts) from increasing our position size.
The entry itself does not matter to us...
all we want to know is if we can afford the 00 (stop) of a large chart.
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xXx wrote:MO at the moment I am in this trade with a traditional SL.
Looking at the chart below (RENKO 20 pips) from the SPACE point of view where would you position yourself?
Would that be at yellow line no 1 or no2?
Or maybe somewhere else?
It is always better to have your stop at a pointy place & beyond any range.
Personally, I use D3 & D9 extremes for 00